According to the new research report by Transparency Market Research on the global vitamin ingredients market, the competitive landscape of the market exhibits an intense competition. The top five companies operating in the competitive space account for the majority of the market share. These five companies are BASF, Koninklijke, DuPont, Lonza, and Amway. In coming years, these companies are expected to continue their dominance over the market. To maintain such strong brand positioning, these companies are adopting aggressive strategies such as mergers, acquisitions, joint ventures, and strategic partnerships. In addition to this, these companies are also investing heavily in developing new products that will cater to the growing demand from the end users.
The research report expects the global vitamin ingredients market to
exhibit a stable CAGR of 4.9% during the given projection period of 2017 to
2025. With this rate of growth, the global market is expected reach a valuation
of US$8.1 bn by the end of 2025. This is an eye-catching growth compared to the
initial recorded valuation of US$5.3 bn back in 2016.
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Growing Inclination towards Preventive Healthcare
to Work in Favor of Market Development
The future of the global vitamin ingredients market is a bright one.
There are several factors that are fueling the overall development of the
global market. One of the biggest driving factors for the market growth has
been increasing health consciousness among people across the globe. The
end-users are becoming extremely aware about the food they eat and nutrient
they intake. Moreover, they are also aware about the benefits of having
nutrient ingredients in their diet as supplements. Naturally, there has been an
increasing demand for these products. Thus, the market is on course to achieve
a stellar valuation in the near future.
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Another key trend that has been observed in the market is of increasing
preference towards preventive healthcare. A large part of this paradigm shift
has enabled consumers to opt for vitamin ingredients in their diet. Having a
proper and well-nourished diet can lay a strong foundation for a healthy
living. Thus, the popularity of nutrient ingredients has soared up and has
helped in the overall development of the global market.
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Asia Pacific Segment to Exhibit Promising Growth
Rate
In terms of geographical segmentation, there are five key regional
segments of the global nutrient ingredients market. These regions are Europe,
Asia Pacific, Middle East and Africa, North America, and Latin America. The
research report expects the regional segment of Asia Pacific to exhibit a
promising CAGR of 5.4% for the given forecast period. There are number of
factors that are helping to push the development of the regional segment. Some
of the key driving factors are large pool of people suffering from vitamin
deficiency, increasing health awareness among people, initiatives undertaken by
the local healthcare and governmental authorities, and presence of robust
distribution channel among others. The regional segments of Europe and North
America are expected to show steady growth rates in coming years of the
forecast period.
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Covid19 analysis on this market
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TMR has followed
the C19-TREND approach for
conducting a comprehensive analysis on the trends and changes in the food and
beverage sector due to the COVID-19 outbreak. Each factor is analyzed with
scrutiny. These points have been compiled in the report and will assure great
assistance to the stakeholders and CXOs in developing sound business
strategies.
Some C19-TRENDs
that TMR has focused upon while analyzing the food and beverage sector are as
follows:
Culinary
Tourism
With the COVID-19
outbreak limiting the number of traveling and dining opportunities for
individuals, many opt to experience the fun of a restaurant or destination at
the comfort of their homes. Ready-to-drink beverages are being focused upon to
enable the consumers to feel the vibe of a particular destination. This aspect
will churn exponential growth.
Immunity-Boosting
Items
A good immunity
can help individuals tackle COVID-19 with ease. Many consumers are switching to
immunity-boosting food and beverage items for improving their resistance
against further infections. Many well-established players are paying attention
on launching immunity-rich food and beverage products. This factor will attract
promising revenues.
Strengthening
of Home Delivery Mechanisms
Restaurants and
food chains were closed for a substantial time during the lockdown period.
Thus, home delivery of food products, eatables, and groceries became the new
norm. Many people still prefer home delivery due to the fear of not venturing
out. Home deliveries will play a crucial role in increasing the growth
opportunities across the horizon of the food and beverages sector.
These are the
major trends that will influence the growth of the food and beverage industry
considerably. Although, the food and beverage sector was exempt from the
lockdown restrictions, many cases of supply chain disruptions were observed.
With mass vaccination drives and certain relaxations in restrictions, the
supply chain disruptions will be minimized extensively.
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